Overseas Pakistanis should boycott Pakistan under PDM leadership

[daytrader]

January remittances fall to 31-month low

Remitta*nces sent by overseas Pakistani fell below $2 billion in January, showing a 31-month low and resulting in a loss of about $2bn during the first seven months of the current fiscal year (FY23).

The State Bank reported on Monday that the remittances stood at $1.89bn in January, the lowest since May 2020, showing a decline of 13 per cent year-on-year and 10pc month-on-month.

The country is in dire need of dollars, but remittances during the current fiscal year kept declining. Pakistan depends more on remittances for dollars than exports.

During July-Jan FY23, the country received a total inflow of $16bn, compared to $17.988bn during the same period last fiscal year.

It shows a decline of 11pc and the country lost $1.982bn during seven months in terms of dollars.

The government is struggling hard to get a $1.2bn IMF tranche to avoid default. The $1.98bn loss was the result of the government’s strategy to control the exchange rate.

...
https://www.dawn.com/news/1737024/january-remittances-fall-to-31-month-low

 

[the Great Khan]

These will continue to fall while this choar gov is in charge. Overseas Pakistanis are not going to send large amounts anymore. Why should they while they are abused and disgraced..

 

[KingKhanWC]

I would go further now and advise to take your money out of Pakistan's banks.

The PDM crooks have worked well for the masters putting Pakistan on the brink of economic chaos.

 

[SportsWarrior]

Boycott of PDM leadership is exactly what overseas did. The dollar is now at 270... inshallah 300 tak jayega. Those on the forum who bark against overseas, I hope they feel the greatest pinch. Inshallah.

Since my leader is not leading the country let it go to hell. Hope most Pakistanis are not this selfish and short sighted.

 

[daytrader]

Since my leader is not leading the country let it go to hell. Hope most Pakistanis are not this selfish and short sighted.

Thats's not the case. The issue at hand is about trust

 

[Savak]

Since my leader is not leading the country let it go to hell. Hope most Pakistanis are not this selfish and short sighted.

For the last 4 years, local Pakistanis mocked overseas Pakistanis and belittled their remittances, contributions to Pakistan and took the position that they should not be given voting rights. Local Pakistanis will now learn the hard way about how vital remittances were for the Pakistani economy and how grateful they should be for it.

 

[Colorblind Genius]

Since my leader is not leading the country let it go to hell. Hope most Pakistanis are not this selfish and short sighted.

But since YOUR leader is leading the country, why don’t YOU lot man up, and open your wallets, and match the same amount of contributions to make it up?

What’s the problem here?

 

[Major]

) a few posters who wont send there $2 think Pakistan's economy will come crashing down cause of them

 

[Major]

For the last 4 years, local Pakistanis mocked overseas Pakistanis and belittled their remittances, contributions to Pakistan and took the position that they should not be given voting rights. Local Pakistanis will now learn the hard way about how vital remittances were for the Pakistani economy and how grateful they should be for it.

remittance will come either way, cause bulk of it comes from Gulf, where they have to send back the money as they cant really build assets there.
Anyways overseas get mocked because they talk alot but dont have a vote.

 

[wasim-fan]

Overseas Pakistan first need to become top performers as a community in their countries. This is best contribution they can do for Pakistan. They could create job opportunities for their people, remit even higher amounts, influence policies, encourage investments etc.

 

[DeadlyVenom]

We send any money directly to family.

It won't change no matter who is in power.

I think the fall in remittances is down to global issues.

 

[Colorblind Genius]

) a few posters who wont send there $2 think Pakistan's economy will come crashing down cause of them

First time I agree with you.
Pakistan economy is definitely not going to come down crashing because of overseas Pakistanis.

It will come down crashing because of the swamp rats of PDM and their chore supporters.

 

[Colorblind Genius]

remittance will come either way, cause bulk of it comes from Gulf, where they have to send back the money as they cant really build assets there.
Anyways overseas get mocked because they talk alot but dont have a vote.

“Will come”?
When?
You are already at 31 month low.

 

[SportsWarrior]

But since YOUR leader is leading the country, why don’t YOU lot man up, and open your wallets, and match the same amount of contributions to make it up?

What’s the problem here?

I am not a Pakistani but an Indian. My preferred party right now in india is BJP. But when non bjp governments were in power for a decade I didn't campaign to boycott India. I wouldn't do it in future too if Modi gets replaced with any of the opposition leaders. After all, any political party or an individual is not bigger than the country. I just can't understand how many well educated individuals here want to boycott Pakistan because their preferred leader is not in power.

 

[SportsWarrior]

We send any money directly to family.

It won't change no matter who is in power.

I think the fall in remittances is down to global issues.

It's probably related to difference in official and market exchange rates. I think even Bangladesh is facing similar issues. Once the rate stabilizes it will improve. There will also be decrease due to overall investment getting hit due to poor economic conditions. Working people who send moneh to their families will continue to do so although they may prefer hundi due to better rates.

 

[Savak]

Overseas Pakistanis were sending money back home to Pakistan for investment opportunities as well apart from supporting their families

Under PDM overseas Pakistanis will naturally still support their families back home but they are going to send the bare minimum, you can certainly forget about anything above that for investment opportunities

 

[Colorblind Genius]

I am not a Pakistani but an Indian. My preferred party right now in india is BJP. But when non bjp governments were in power for a decade I didn't campaign to boycott India. I wouldn't do it in future too if Modi gets replaced with any of the opposition leaders. After all, any political party or an individual is not bigger than the country. I just can't understand how many well educated individuals here want to boycott Pakistan because their preferred leader is not in power.

You had some TRULY legendary non BJP leaders like Manmohan Singh so I understand you.

Wait till you get these kind of leaders as PDM who have ruled over the country for about 70 years and have sucked it inside out - and then I will ask you how do you trust these crooks with your own money?

We support our country by all means but NOT by giving our hard earned money to these rats.

Those who support PDM should open up their wallets.

 

[DeadlyVenom]

Overseas Pakistanis were sending money back home to Pakistan for investment opportunities as well apart from supporting their families

Under PDM overseas Pakistanis will naturally still support their families back home but they are going to send the bare minimum, you can certainly forget about anything above that for investment opportunities

Overseas Pakistanis ( particularly Punjabis) are some of the biggest beneficiaries of corruption and money laundering in Pakistan.

Investments are again likely not going ahead due to global issues/possibility of default.

Don't be naïve enough to think that they will stop because PDM is in power.

 

[IMMY69]

Overseas Pakistanis ( particularly Punjabis) are some of the biggest beneficiaries of corruption and money laundering in Pakistan.

Investments are again likely not going ahead due to global issues/possibility of default.

Don't be naïve enough to think that they will stop because PDM is in power.

Who is being naive?

Firstly, to brand overseas Pakistani's "particularly punjabis", as beneficiaries of corruption is deeply offensive.

Secondly, I know many who have stopped investing due to PDM.

Regarding charities, we give our heard earned money to private charities that actually make sure the money I spent directly on the poor, such as funding for Portable toilets for those affected by the floods, provide food and toys, books and pens for those affected.

 

[DeadlyVenom]

Who is being naive?

Firstly, to brand overseas Pakistani's "particularly punjabis", as beneficiaries of corruption is deeply offensive.

Secondly, I know many who have stopped investing due to PDM.

Regarding charities, we give our heard earned money to private charities that actually make sure the money I spent directly on the poor, such as funding for Portable toilets for those affected by the floods, provide food and toys, books and pens for those affected.

I have just stated facts no need to be offended if they dont apply to you personally. Corruption and black money flows throughout Pakistan and overseas Pakistanis are complicit.

Punjab/AJK has boomed during the corrupt tenures of previous PMs and regimes. This will continue. Its a dog eat dog world in Pakistan.

What sort of things have the people you know stopped investing in and in what areas?

 

[IMMY69]

I have just stated facts no need to be offended if they dont apply to you personally. Corruption and black money flows throughout Pakistan and overseas Pakistanis are complicit.

Punjab/AJK has boomed during the corrupt tenures of previous PMs and regimes. This will continue. Its a dog eat dog world in Pakistan.

What sort of things have the people you know stopped investing in and in what areas?

Garment factory in Karachi.
Remote acounting business .
Stocks
Property.

 

[IMMY69]

^^^
Just to clarify, when I say property I don't mean buyng Land. I'm talking about entire construction of buildings that would employ locals an eventually house them too

 

[DeadlyVenom]

I posed and didn't have time to edit.

Just to add one of the biggest lotas in Pakistani history and former PTI governer Punjab was an overseas Pakistan, incidentally from my home city in the UK and Pakistan!

Backhanded deals boomed during his tenures, no matter the party he was representing...

 

[IMMY69]

I posed and didn't have time to edit.

Just to add one of the biggest lotas in Pakistani history and former PTI governer Punjab was an overseas Pakistan, incidentally from my home city in the UK and Pakistan!

Backhanded deals boomed during his tenures, no matter the party he was representing...

You're from Scotland? I Didn't know.

Would be interested to know how this politian was known for taking corrupt money from Lahore to set up his business abroad?

But, even putting this aside, no one will disagree that there is corruption and that some overseas Pakistani's are beneficiaries of corruption. BUT there are many more overseas Pakistani's that have worked hard to make a good living and those people are now unwilling to invest in to Pakistan due to the thieves that are presently running the country.

 

[DeadlyVenom]

You're from Scotland? I Didn't know.

Would be interested to know how this politian was known for taking corrupt money from Lahore to set up his business abroad?

But, even putting this aside, no one will disagree that there is corruption and that some overseas Pakistani's are beneficiaries of corruption. BUT there are many more overseas Pakistani's that have worked hard to make a good living and those people are now unwilling to invest in to Pakistan due to the thieves that are presently running the country.

Yeah from Scotland. Bounced around the north of England doing various jobs but moved back due to Covid. Best country to raise kids if you are ever considering a move

Btw I am not accusing any politician of being involved in corruption just mentioning that during his tenure it was easier to get access to information about what was going on in Pakistan. Sorry cant give specific examples but a lot of money moves from here to Pak...no matter who is in charge.

On a personal note I know a reasonable amount of Pakistani politicians through mutual contents and have spent time with them here and Pakistan. Overseas are very much complicit in indirect corruption to these politicians through gifts etc whenever they visit. These politicians then open up major doors for them in Pakistan.

It's not seen as corruption but doing a friend a favour ( a friend that has bought you expensive gifts....)

I can guarantee you that this wont change one bit. At the moment there is uncertainty around whether the new regime will last but if there is an election and PDM win then expect business as usual to begin again. People are scared of backing a horse that may not be in the race in 3 -6 months.

You are right that many people are well intentioned and will stop investing but I think this is a drop in the ocean compared to those who will keep things going as is - pending the IMF and whoever wins next election.

 

[IMMY69]

Yeah from Scotland. Bounced around the north of England doing various jobs but moved back due to Covid. Best country to raise kids if you are ever considering a move

Btw I am not accusing any politician of being involved in corruption just mentioning that during his tenure it was easier to get access to information about what was going on in Pakistan. Sorry cant give specific examples but a lot of money moves from here to Pak...no matter who is in charge.

On a personal note I know a reasonable amount of Pakistani politicians through mutual contents and have spent time with them here and Pakistan. Overseas are very much complicit in indirect corruption to these politicians through gifts etc whenever they visit. These politicians then open up major doors for them in Pakistan.

It's not seen as corruption but doing a friend a favour ( a friend that has bought you expensive gifts....)

I can guarantee you that this wont change one bit. At the moment there is uncertainty around whether the new regime will last but if there is an election and PDM win then expect business as usual to begin again. People are scared of backing a horse that may not be in the race in 3 -6 months.

You are right that many people are well intentioned and will stop investing but I think this is a drop in the ocean compared to those who will keep things going as is - pending the IMF and whoever wins next election.

I will definitely be doing a full tour of Scotland, so far have only visited Edinburgh..
I'm too set in London, with young adult children at UnI.

I think corruption exits in every society and in every country but it depends upon the level of that corruption. Issue in Pakistan is that you can guarantee that most of the money either given in form of charity or taxes through income will be taken by the corrupt politicians.

I don't blame people for using their contacts, a lot of business is done this way. However, profits showed be declared, taxes paid and the governments should use that income for services for its people and not cheat them by thieving.

Of course this is systemic in Pakistan and unlikely to change, but one can still try and support and promote those that want change, even though it's sometimes difficult to see through the heavy fog.

 

[SportsWarrior]

You had some TRULY legendary non BJP leaders like Manmohan Singh so I understand you.

Wait till you get these kind of leaders as PDM who have ruled over the country for about 70 years and have sucked it inside out - and then I will ask you how do you trust these crooks with your own money?

We support our country by all means but NOT by giving our hard earned money to these rats.

Those who support PDM should open up their wallets.

I am old enough to remember all the coalition governments of 90s. Unfortunately I was one of congress and few local parties supporter then and campaigned for lots of local candidates. Was completely disillusioned with their policies, politics and complete disdain towards working populace. Thankfully things have changed. But even during the Chandrasheksr, IK gujral, Devegowda period I never thought I should be boycotting india or Indian parties.

I completely understand people's frustrations here on this forums. We have all gone through this in the suv continent. I just wish people find better solution or response than boycotting their countries just because their leaders are not there.

IK is already pretty old. Even if he gets back Power he is Unlikely to hold on to that much longer. All opposition parties have more popular and we'll known politicians. What will PTI supporters do post IK.

 

[daytrader]

Curbs on black market can push remittances to $50b
Huge chunk flows via illegal networks due to attractive exchange rates

Foreign remittance service providers have voiced optimism that Pakistan’s remittances can surpass $50 billion per annum, if authorities restrain the black market, which they believe constitutes nearly 80% of the total market.

They point out the black market or illegal ways of sending remittances, commonly known as Hundi and Hawala in Pakistan, are a global phenomenon. As per World Bank’s report, around $624 billion is remitted every year. Apart of that, another 80% of this amount is sent through illegal channels.

Pakistan is not an exception. Currently, a huge chunk of remittances flows through Hundi and Hawala networks.

“One of the primary reasons is the huge gap between open market and inter-bank rates, which now have a difference of more than Rs20 per dollar; such a huge gap always encourages illegal networks,” remarked ACE Money Transfer Executive Head of Finance Naqqash Hafiz.

Speaking to The Express Tribune, Hafiz estimated that remittances to Pakistan would likely remain around $26 billion to $27 billion in the current fiscal year.

A key reason for the decline in annual remittances was the wide difference between rupee-dollar exchange rates in inter-bank and open markets, he added.

Pakistan received $31.2 billion in remittances in fiscal year 2021-22. Many believe the figure should rise at a steady pace since more than 10 million Pakistanis live overseas, of which 65% regularly send money back to their home country.

However, Hafiz pointed out that global inflation, coupled with local political and economic conditions, had slowed down the pace of remittances.

“Many expats, who used to send money for investment, have held back and are waiting for the right time to invest, while others have stopped investing in assets like real estate and are opting for foreign currencies as their preferred investment destination, which have given around 33% profit in a year,” he revealed.

...
https://tribune.com.pk/story/2418918/curbs-on-black-market-can-push-remittances-to-50b

 

[Cpt. Rishwat]

I posed and didn't have time to edit.

Just to add one of the biggest lotas in Pakistani history and former PTI governer Punjab was an overseas Pakistan, incidentally from my home city in the UK and Pakistan!

Backhanded deals boomed during his tenures, no matter the party he was representing...

No surprise, the British govt rewards their foreign slaves. They will pay them handsomely for it though.

 

[RexRex]

This is just sad and embarrassing. Pakistanis are now made to confess & profess their undying love for the Pak Army. This is North Korea style humiliation of citizens

.
<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Fashion designer Khadijah Shah who is currently lodged in a jail over allegations of leading the attack on Lahore Corps Commander’s home, recorded a forced apology to get exemption from arrest before her detention.<br><br>This is how civilians are coerced into respecting Pakistan army. <a href="https://t.co/JSbZCCc8fd">pic.twitter.com/JSbZCCc8fd</a></p>— Sonam Mahajan (@AsYouNotWish) <a href="https://twitter.com/AsYouNotWish/status/1662928272576118784?ref_src=twsrc%5Etfw">May 28, 2023</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

 

[daytrader]

Pakistan lost $3.7bn in remittances

The remittances sent by overseas Pakistani workers dipped month-on-month by 4 per cent and 10pc year-on-year to $2.1 billion in May.

The latest data released by the State Bank of Pakistan (SBP) on Tuesday showed that the country lost $3.7bn in remittances during the first 11 months of FY23 mainly due to a wid*ening exchange rate gap.

The inflows tumbled by 12.98pc to $24.831bn in 11MFY23 compared to $28.489bn in the same period of last fiscal year. The country has been struggling hard to get a $1.1bn tranche from the IMF for a year but the shrinking inflows of remittances could make it more difficult for the country to manage the external account with poor foreign exchange reserves of less than $4bn.

Pakistan received $2.102bn in May compared to $2.198bn in April. It received $2.346bn in May last year.

Currency dealers have consistently been drawing the attention of the government to address the reasons for the decline in remittances but no timely measures were taken to limit the growing role of the grey market which has practically replaced the exchange companies.

The illegal market offers dollar prices more than Rs20 per dollar higher than banking market rate. The exchange companies were facing serious shortage of dollars so the price of green*back gone up open mark*et to come close to the grey market rate. The grey market attracted the remittances.


...
https://www.dawn.com/news/1759602/pakistan-lost-37bn-in-remittances

 

[daytrader]

Asif under fire after expatriate slur in NA
APPNA asks minister to apologise for to millions of Pakistanis residing in North America, Europe

The Association of Physicians of Pakistani-Descent of North America (APPNA) has issued a stern condemnation of the recent remarks made by Defence Minister Khawaja Asif in the National Assembly.

During his speech on Wednesday, Asif used "condescending and degraded language" when referring to the Pakistani diaspora in the United States and Canada, it said.

In his speech, Asif stated, "English speakers sitting outside of Pakistan are saying that remittance will be stopped… remittances are sent by Gulf countries. Someone is living in Canada, someone in America… these are shameless people, they come back to bury the bodies and then go back."

These comments have drawn severe criticism from APPNA, which labeled them as "glaringly contemptuous" towards Pakistanis in North America and Europe.

APPNA emphasised that the Pakistani diaspora living in the Western world, particularly North America, has always prioritised the welfare of Pakistan. Their countless services to the nation have brought honour and pride, making them the true ambassadors of Pakistan in the global community.

The organisation expressed its disappointment with Asif's derogatory remarks and stressed that political differences should be addressed through civil discourse, devoid of hateful rhetoric.

While APPNA acknowledged the right of overseas Pakistanis to engage in political activities, it condemned any attempt to disparage the entire community. As a non-political organisation, APPNA called for civility and tolerance in political discourse, urging overseas Pakistanis and others to engage respectfully.

APPNA expressed its deep concern over Asif's comments, particularly his assertion that overseas Pakistanis from North America or Europe only visit Pakistan for the purpose of burying their elders or selling property.

The organization deemed these remarks insulting and in extremely poor taste, emphasizing that such sentiments should never be accepted. APPNA also expressed disappointment towards members of the National Assembly who encouraged Asif's outburst without correcting him. The organization suggested that the NA speaker should have taken notice and expunged these hateful words from the parliamentary record.

...
https://tribune.com.pk/story/2422082/asif-under-fire-after-expatriate-slur-in-na

 

[WicketLord]

They should compare current overseas remmitences with last year

https://twitter.com/x/status/1702925992367628541

 

[WicketLord]

ISLAMABAD: Finance Minister Dr Shamshad Akhatr has announced Home Remittance Incentives Scheme worth 80 billion rupees to channelize remittances from overseas Pakistanis

Addressing media in Islamabad on Friday, she said twenty out of eighty billion rupees have been released immediately for this purpose.

Giving details of this scheme, the Minister said the government will cover all the charges to be incurred on telegraphic transfers of funds worth 100 dollars or above by the overseas Pakistanis. She said this will enable remitters to send money free off cost.

Dr Shamshad Akhtar further said that the government will pay twenty Saudi Riyals to participatory banks for providing this facility to the remitters.

On a yearly basis, the monthly inflow of Pakistan’s remittances registered a decline of 24% as it stood at $2.7 billion in the same month of the previous year, according to the data released by the central bank.

Pakistan announces Home Remittance Incentives Scheme worth Rs80b

ISLAMABAD: Finance Minister Dr Shamshad Akhatr has announced Home Remittance Incentives Scheme worth 80 billion rupees to channelize remittances from

arynews.tv

 

[daytrader]

SBP LAUNCHES ‘DIAMOND’ CATEGORY OF SOHNI DHARTI REMITTANCE PROGRAM

KARACHI: In a bid to further encourage remittances through formal channels, the State Bank of Pakistan (SBP) launched a new ‘Diamond’ category of the Sohni Dharti Remittance Program (SDRP) that offers enhanced points and additional benefits to remitters, ARY News reported on Friday.

According to a statement issued today, the ‘Diamond’ category will be effective from September 22, 2023, in addition to existing three – Green, Gold and Platinum – categories of Sohni Dharti Remittance Program (SDRP).

SDRP is a point-based loyalty program in which remitters accumulate reward points by sending remittances through formal channels of SBP-regulated entities.

Former Finance Minister Ishaq Dar in his budget speech for FY24 had announced the addition of Diamond category with enhanced reward points and provision of other benefits like arms license of non-prohibited bore, preferential treatment at Pakistan embassies and airports and gratis passport to the Diamond Category holders.

Reward points can be redeemed by remitter and their beneficiary for availing free of cost products and services including Emigrant Registration fee at Bureau of Emigration and Overseas Employment; duty payment of imported mobile sets and vehicles to Federal Board of Revenue; School fee by Overseas Pakistanis Foundation (OPF); and renewal fee of passports at Directorate General of Immigration and Passports, said the statement.

SBP launches ‘Diamond’ category of Sohni Dharti Remittance Program

KARACHI: In a bid to further encourage remittances through formal channels, the State Bank of Pakistan (SBP) launched a new ‘Diamond’ category of the

arynews.tv

 

[BouncerGuy]

Remittances jump to $2.5bn in October

KARACHI: Remittances sent by overseas Pakistanis grew $255 million or 11.5 per cent to $2.5 billion in October when compared with $2.208bn in September, reported the State Bank of Pakistan (SBP) on Friday.

However, remittances posted a 9.6pc rise or $216m compared to $2.247bn in October 2022.

The country has been in dire need of receiving higher remittances as the inflows from other sources have dried up, particularly the export proceeds are on the decline. The economic managers fear that lower inflows could create serious current account imbalances. The softening of restrictions on imports has already created a larger trade deficit.

However, the most discouraging side of the remittances was the 13.3pc decline during July-Oct FY24 over the same period last year. Pakistan received $8.794bn during this period against $10.144bn in the same period last year.

The previous year proved highly discouraging since the overall remittances in FY23 fell by about $4bn compared to the preceding year. The four-month average is lower than last year which means the total inflows could also be lower than FY23 ($27.332bn received in FY23).

The crackdown against illegal currency business and smuggling had created hope for higher inflows through official channels but September inflows were disappointing for the government.

Though the remittances hit the $2.5bn mark after March, the inflows declined from all destinations except EU countries.

The data showed that the largest decline was from the UAE as it fell by 21.2pc to $1.497bn during July-October FY24.

Inflows from Saudi Arabia, which is the biggest source of remittances, noted a decline of 15.7pc to $2.132bn during 4MFY24.

Remittances from the US and the United Kingdom witnessed an identical fall of 7pc to $1.051bn and $1.277bn, respectively, during 4MFY24. Inflows from GCC countries dipped by 13.2pc to $990m.

Only improvement was noted in the inflows from the EU countries which increased by 6.7pc to $1.141bn during the four months.
​

Remittances jump to $2.5bn in October

Four-month figure still 13pc lower YoY; forex reserves held by SBP see uptick of $4m to $7.51bn during the week ending on Nov 3.

www.dawn.com

 

[daytrader]

Army chief embarks on charm offensive to woo diaspora

WASHINGTON: Chief of Army Staff (COAS) Gen Asim Munir unleashed a charm offensive on the Pakistani diaspora, whom he met at a community dinner hosted by the Pakistan embassy last week.

Among the attendees were individuals of diverse influence: investors, physicians, IT professionals, engineers, university professors, financial experts, and economists. Despite their varied backgrounds, they shared a common claim: leadership within the Pakistani community in America. Some even came on their private planes from places as far afield as California and Texas.

On Monday, the army chief is expected to meet some US military leaders at the Centcom headquarters in Tampa, Florida. He may return to Washington if the embassy succeeds in arranging a meeting with US lawmakers and think-tank experts.

A Pakistani-American entrepreneur, Tanweer Ahmed, earned the chief’s praise for donating $9 million to the National University of Science and Technology (NUST) in Pakistan.

“I met the army chief along with dozens of other community members. More than 70 people were in attendance; we had an open and frank discussion with the army chief; he interacted with everyone and was very receptive,” he tweeted after the dinner.

“There was an overwhelming demand on the Pakistani diplomats for an invitation, and only a limited number could be accommodated,” he added.

In his address to this select gathering, Gen Munir urged Pakistani Americans to invest in their homeland through the Special Investment Facilitation Council (SIFC) and assured them it “offers complete security”.

He said he believed in three Cs: Competence, Courage, and Character, and if he has to let go of two things, he would let competence and courage go but not character.

Gen Munir was quoted as saying that the Pakistani “diaspora around the world is held in high regard as they are ambassadors of Pakistan and contribute significantly to Pakistan in varying domains.”

“He spoke from the heart and seems very caring about Pakistan,” said a Pakistani physician who attended the dinner.

 DAWN

 

[Bewal Express]

Army chief embarks on charm offensive to woo diaspora

WASHINGTON: Chief of Army Staff (COAS) Gen Asim Munir unleashed a charm offensive on the Pakistani diaspora, whom he met at a community dinner hosted by the Pakistan embassy last week.

Among the attendees were individuals of diverse influence: investors, physicians, IT professionals, engineers, university professors, financial experts, and economists. Despite their varied backgrounds, they shared a common claim: leadership within the Pakistani community in America. Some even came on their private planes from places as far afield as California and Texas.

On Monday, the army chief is expected to meet some US military leaders at the Centcom headquarters in Tampa, Florida. He may return to Washington if the embassy succeeds in arranging a meeting with US lawmakers and think-tank experts.

A Pakistani-American entrepreneur, Tanweer Ahmed, earned the chief’s praise for donating $9 million to the National University of Science and Technology (NUST) in Pakistan.

“I met the army chief along with dozens of other community members. More than 70 people were in attendance; we had an open and frank discussion with the army chief; he interacted with everyone and was very receptive,” he tweeted after the dinner.

“There was an overwhelming demand on the Pakistani diplomats for an invitation, and only a limited number could be accommodated,” he added.

In his address to this select gathering, Gen Munir urged Pakistani Americans to invest in their homeland through the Special Investment Facilitation Council (SIFC) and assured them it “offers complete security”.

He said he believed in three Cs: Competence, Courage, and Character, and if he has to let go of two things, he would let competence and courage go but not character.

Gen Munir was quoted as saying that the Pakistani “diaspora around the world is held in high regard as they are ambassadors of Pakistan and contribute significantly to Pakistan in varying domains.”

“He spoke from the heart and seems very caring about Pakistan,” said a Pakistani physician who attended the dinner.

 DAWN

Most people ignored meeting with the duffer. Humiliation for the duffer

 

[Cricket Warrior]

Pakistan’s remittances clock in at $2.8bn in April, up 27.9% YoY

Inflow of overseas workers’ remittances increased to $2.812 billion in April 2024, 27.9% higher on a year-on-year (YoY) basis when compared to $2.198 billion in April 2023, showed data released by the State Bank of Pakistan (SBP) on Thursday.

On a month-on-month (MoM) basis, the inflow of remittances registered a decline of 4.8% as it had stood $2.954 billion (revised) in March 2024, data showed.

During first 10 months of FY24, workers’ remittances recorded an inflow of $23.8 billion, an increase of 3.5% as compared to $23.04 billion remittances recorded during 10MFY23.

Overseas Pakistanis in Saudi Arabia maintained their top spot, remitting the largest amount in April 2024 as they sent $712 million during the month. The amount increased by 1.26% MoM and 45.3% YoY.

Inflows from the United Arab Emirates (UAE) declined on a monthly basis, from $548.5 million in March to $542.3 million in April. On a yearly basis, the remittances registered an increase of 42.6%, as compared to $380.1 million reported in the same month last year.

Pakistan’s remittances clock in at $2.8bn in April, up 27.9% YoY

- Inflow declines 4.8% on a monthly basis

www.brecorder.com

 

[hassan918]

Overseas Pakistanis remitted record $28.07bn in current fiscal, says SBP governor​

KARACHI (Dunya News) – State Bank of Pakistan (SBP) Governor Jameel Ahmad said on Monday that the country received a record $28.07 billion from overseas Pakistanis during the current financial year.

Addressing a ceremony at the Pakistan Stock Exchange (PSX) here, he said the total remittances in the first nine months of the financial year 2024-25 were 33 percent higher compared to the same period a year ago.

The governor said remittances from overseas Pakistani were up by nearly 40 percent year-on-year in February 2025, to $3.12 billion. The country received a record $4.1 billion during March, he added.

According to SBP data, Pakistanis living in Saudi Arabia remitted the highest $987 million during March, followed by $842 million from the UAE, $684 million from the UK and $419 million from the US.

Governor Ahmad stated that the government had been striving for economic stability of the country and contacted the corporate sector to reduce the financial gap.

He said whenever he talked about the economy, he kept in mind the state of the country in 2022.

The governor said the CPI index last month showed that inflation fell to a historic low of 0.7 percent from a peak of 38 percent in May 2023.

Governor Ahmad mentioned two issues that have been plaguing the national economy: inflation, and foreign loan. He noted that foreign exchange reserves have soared above $14 billion. The currency exchange rate has improved. Inflation has come down as per the expectations of the Monetary Policy Committee.

He noted that the country’s economic activity has “revived”. If the agriculture sector matched last year’s performance, the GDP growth would reach 4.2 percent. But, due to a lower-than-expected agricultural season, the GDP growth is projected in the range between 2.5 percent and 3 percent.

He stressed the need for working together with the corporate sector and mentioned that they are also working on the economic development side in collaboration with the stock exchange.

PM SHEHBAZ PLEASED

Meanwhile, Prime Minister Shehbaz Sharif expressed his pleasure as foreign remittances sent by overseas Pakistanis in a month crossed the $4 billion mark for the first time in the country’s history, terming it a reflection of their trust in the government’s policies.

The prime minister, in a statement, also thanked the Pakistani expatriates for sending a record $4.1 billion during March this year, taking the current fiscal year’s foreign remittance volume to $28 billion.

He said that a surge of 37.4% in foreign remittances was recorded compared to March last year.

Calling them a valuable asset, Prime Minister Shehbaz said that overseas Pakistanis working tirelessly abroad not only made the nation proud but also strengthened the national economy through remittances.

He said that the nation was proud of hardworking overseas Pakistanis and the incumbent government was fully committed to providing them with all necessary facilities.

Source: Dunya News

 

[RizwanT20Champ]

Overseas Pakistanis remitted record $28.07bn in current fiscal, says SBP governor​

KARACHI (Dunya News) – State Bank of Pakistan (SBP) Governor Jameel Ahmad said on Monday that the country received a record $28.07 billion from overseas Pakistanis during the current financial year.

Addressing a ceremony at the Pakistan Stock Exchange (PSX) here, he said the total remittances in the first nine months of the financial year 2024-25 were 33 percent higher compared to the same period a year ago.

The governor said remittances from overseas Pakistani were up by nearly 40 percent year-on-year in February 2025, to $3.12 billion. The country received a record $4.1 billion during March, he added.

According to SBP data, Pakistanis living in Saudi Arabia remitted the highest $987 million during March, followed by $842 million from the UAE, $684 million from the UK and $419 million from the US.

Governor Ahmad stated that the government had been striving for economic stability of the country and contacted the corporate sector to reduce the financial gap.

He said whenever he talked about the economy, he kept in mind the state of the country in 2022.

The governor said the CPI index last month showed that inflation fell to a historic low of 0.7 percent from a peak of 38 percent in May 2023.

Governor Ahmad mentioned two issues that have been plaguing the national economy: inflation, and foreign loan. He noted that foreign exchange reserves have soared above $14 billion. The currency exchange rate has improved. Inflation has come down as per the expectations of the Monetary Policy Committee.

He noted that the country’s economic activity has “revived”. If the agriculture sector matched last year’s performance, the GDP growth would reach 4.2 percent. But, due to a lower-than-expected agricultural season, the GDP growth is projected in the range between 2.5 percent and 3 percent.

He stressed the need for working together with the corporate sector and mentioned that they are also working on the economic development side in collaboration with the stock exchange.

PM SHEHBAZ PLEASED

Meanwhile, Prime Minister Shehbaz Sharif expressed his pleasure as foreign remittances sent by overseas Pakistanis in a month crossed the $4 billion mark for the first time in the country’s history, terming it a reflection of their trust in the government’s policies.

The prime minister, in a statement, also thanked the Pakistani expatriates for sending a record $4.1 billion during March this year, taking the current fiscal year’s foreign remittance volume to $28 billion.

He said that a surge of 37.4% in foreign remittances was recorded compared to March last year.

Calling them a valuable asset, Prime Minister Shehbaz said that overseas Pakistanis working tirelessly abroad not only made the nation proud but also strengthened the national economy through remittances.

He said that the nation was proud of hardworking overseas Pakistanis and the incumbent government was fully committed to providing them with all necessary facilities.

Source: Dunya News

@Bewal Express you see you had claimed a larger number for UK alone.

 

[Bewal Express]

@Bewal Express you see you had claimed a larger number for UK alone.

Bring up the post. It's easier to prove your case

 

[RizwanT20Champ]

Bring up the post. It's easier to prove your case

Already did about 10 times and you never reverted bro.

 

[Bewal Express]

Already did about 10 times and you never reverted bro.

That's what you said every time. As we know you are liar, lest we forget your lies on the governor of Punjab. So be a man and actually do what you are claiming. I will be waiting to kick your backside and your fecally damaged neurons